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Business confidence in Myanmar sinks as scepticism mounts

More European businesses say they have lost confidence in Myanmar due to concerns about the National League for Democracy-led government’s management of the economy compared to the last two years, a new survey shows. According to the latest survey from the European Chamber of Commerce in Myanmar (EuroCham) published yesterday, a majority of firms (81 […]

From boom to bust for Bagan hotels

The humanitarian crisis in northern Rakhine and jailing of two Reuters journalists have hit hospitality businesses in Bagan hard, industry players admitted. But the problem goes beyond these two factors, they said. The government’s lack of law enforcement and absence of infrastructure support have throttled hotels and tourism. On a recent visit, a herd of […]

Visa-free entry for Japan and South Korea soon

The government will grant visa-free entry to Myanmar for citizens of Japan and South Korea and give visas on arrival to Chinese tourists, U Khin Zaw, an adviser of the Ministry of Hotels and Tourism told The Myanmar Times on Sunday. “On Friday, the government sent an official letter agreeing to give visa free entry […]

Home-stay tourism expected to take off when law approved

The home-stay programme in the countryside will become a reality once the new tourism law which is being discussed in a Pyithu Hluttaw committee is approved. The Ministry of Hotels and Tourism has been trying to amend the Myanmar Hotels and Tourism Law enacted in 1993. According to the law, the ministry only issues four […]

Angkor-Bagan direct air-link will start in April 2018

STATE-owned Myanmar National Airlines will operate a direct air-link between Angkor Wat and Bagan as the part of the Cambodia-Myanmar “two countries, one destination” campaign to be implemented in April 2018. U Thet Lwin Toh, chairman of Union of Myanmar Travel Association, said last week that discussions are still in progress to launch the service. […]

Damco Increases its Footprint to Keep Pace With Growth in Myanmar

Damco has increased its warehousing capacity in Myanmar with a new 10,000sq metre facility in Yangon. And in Cambodia, the 3PL has moved to a larger head office, in Phnom Penh, having enjoyed double-digit growth there this year. Officially opened last week, the Damco Myanmar Logistics Center will primarily support the sourcing operations of fashion and […]

Singapore’s Pan Pacific opens new hotel in Yangon, remains confident of long term ROI

Wee Wei Ling, executive director of Pan Pacific Hotel Group, isn’t at all worried about the glut in hotel rooms in Yangon. “There is definitely an oversupply. In fact, tourism has been declining recently. But we are long-term investors in Myanmar. We see the potential of this country and we would like to grow with […]

Malaysia, Singapore-backed firm acquires tourism business from Serge Pun

SHC Capital Asia, an investment holding company, is planning to acquire MM Myanmar from Mr Serge Pun’s First Myanmar Investment Limited (FMIL), a local conglomerate which is listed on the Yangon Stock Exchange, Yoma Strategic Investments and Exemplary Ventures for S$69.7 million. SHC Capital Asia is backed by Malaysian property developer See Hoy Chan and […]

Japanese investor interest in Myanmar still high despite lower FDI

The Japanese remain interested in expanding their presence in Myanmar despite lower investments in recent years compared to before and a refugee crisis unfolding in northern Rakhine. At the 13th Joint meeting of the Myanmar-Japan CCI Business Cooperation Committees in Yangon on October 23, the new Investment Law, development of small and medium enterprises (SMEs) […]